Citizens (CIA) Emerging Growth Conference 82 summary

Strategic focus and company overview

• Offsite meeting held to refine strategies for U.S., Latin America, Caribbean, and Asian growth in the coming year.

• Operations span 75 countries, with a diverse workforce representing 27 nationalities and over 8,000 independent agents, 3,000 of whom are active producers.

• $1.7 billion in assets, with two-thirds of in-force revenue from international markets and one-third from the U.S.

• In 2024, two-thirds of new sales originated in the U.S., reflecting rapid domestic expansion.

• Aims to offer investors both stability and growth through a balanced domestic and international presence.

Growth drivers and market expansion

• International growth driven by strengthening relationships with long-term partners, resulting in 16%-18% growth last year.

• U.S. growth fueled by agent expansion and entry into the final expense market, now operating in 43 states and D.C., with plans to reach 49 states.

• Future plans include targeting higher-income markets and expanding into investment and health-related products.

• Significant opportunity remains for domestic growth.

Financial performance and operational priorities

• Despite 49% growth in first-year premiums and agent expansion, Q1 net income declined due to upfront costs of entering new markets.

• Long-term strategy is to build scalable infrastructure, expecting expenses to stabilize as renewal premiums accumulate over time.

• Maturing 20-year endowment products overseas are being paid out, increasing the need to replace revenue through new growth.